The embattled FTSE-100 mining group Anglo American is drawing up plans to replace its veteran finance chief as it pursues a radical restructuring triggered by the rout in global commodity prices.

Sky News has learnt that Anglo is at the early stages of a process to identify a successor to Rene Medori, who has held the role since 2005, making him one of the longest-serving finance chiefs in Britain’s blue-chip share index.

The search for Mr Medori’s successor comes after a torrid period for Anglo as well as rival London-listed mining groups such as BHP Billiton and Glencore, which have been forced to slash their dividends as their profits have slumped.

Anglo is best known for its controlling stake in De Beers, the diamond company.

Last month, Anglo American’s chief executive, Mark Cutifani, outlined plans to shed tens of thousands of jobs by refocusing the company away from bulk commodities such as coal and iron ore.

It wants to sell billions of pounds-worth of mines this year and has said that when its revamp is complete, it will hold just 16 individual assets in copper, diamonds and platinum.

"The global economic environment and its impact on prices have presented the industry with significant challenges during 2015,” Mr Cutifani said in February.

“Against the strong headwinds of a 24% decrease in the basket price of our products for the year as a whole, our ongoing intense focus on operational costs and productivity delivered a [significant earnings] benefit in the year, providing some mitigation.”

No date has yet been set for Mr Medori’s departure from Anglo, and there was no suggestion that shareholders were demanding that he should leave.

Succession is likely to be a broader issue on the agenda for the miner over the next couple of years, with Sir John Parker, its long-serving chairman, expected to make way for a successor.

Last week, Rio Tinto, another FTSE-100 miner, said chief executive Sam Walsh would step down this year.

Anglo American, which now has a market value of just over £7bn, less than half what it was a year ago, declined to comment.